After a relatively strong week for the pound last week, the markets are awaiting this morning’s GDP data releases, expected to show a return to positive figures quarter-on-quarter. Poor economic performance in the eurozone helped to keep the pound up, with a dip on Thursday following the BoE’s interest rate announcement, when two members voted for a cut.
The European Commission downgraded its growth forecasts last week, citing poor manufacturing performance and external pressures. This week, we’ll see more GDP releases, from the Eurozone and Germany, and it will be interesting to see how they fare.
In the US, the dollar reached a three-week high, despite disagreement between Chinese and American sources over whether a US-China trade deal might see tariffs scrapped.
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